Sales in North America and Asia Drive Increases for Quarter and Full Year

Ford Motor Co.'s fourth quarter profit jumped on strong results from North America and Asia even as it warned this year's profit will decline on new product launches and tougher competition.

The Dearborn, Mich., auto maker said fourth-quarter net income rose 90% to $3.04 billion, including a tax-related gain of $2.2 billion. Pretax operating profit fell $402 million to $1.28 billion, reflecting in part a pretax charge of $1.6...